CENTRAL WEALTH SECURITIES INVESTMENT LIMITED Forex Broker
Basic Information
Hong Kong
5-10 years Regulated in Hong Kong Dealing in securities Suspicious Scope of Business Hong Kong Dealing in futures contracts Revoked Suspicious Overrun High potential riskCompany profile
Rating Index
Pros
Various financial products and services offered, including securities brokerage and asset management.
Transparent fee structures that provide clarity on trading costs.
24/7 customer support available for client assistance.
Cons
Revoked and exceeded licenses from the Securities and Futures Commission (SFC) of Hong Kong raise regulatory concerns.
Lack of a demo account option for prospective traders to practice before committing real funds.
High minimum deposit requirements may be a barrier for new or smaller investors.
Cwsi Forex Broker - Complete Information Guide
1. Broker Overview
Central Wealth Securities Investment Limited, commonly known as Cwsi, was established in 2014. The company is headquartered in Hong Kong, specifically at RM 1801-1802, Far East Finance Centre, 16 Harcourt Road, Admiralty. Cwsi operates as a private company and is a subsidiary of Central Wealth Group Holdings Limited, which is publicly listed on the Hong Kong Stock Exchange.
Cwsi primarily serves retail and institutional clients in the Hong Kong market, providing a range of financial services including online stock trading, margin accounts, and participation in initial public offerings (IPOs). Over the years, Cwsi has developed a reputation for offering diverse trading assets and integrated financial services. However, it has faced regulatory challenges, particularly with the revocation of its futures contracts license by the Securities and Futures Commission (SFC) of Hong Kong.
The company operates under a business model that focuses on retail forex trading, securities brokerage, and asset management, which includes private fund setup and management. Cwsi broker aims to cater to both individual investors and corporate clients, providing them with comprehensive financial solutions.
2. Regulatory and Compliance Information
Cwsi is regulated by the Securities and Futures Commission (SFC) of Hong Kong, although it has faced significant setbacks regarding its regulatory status. The relevant licenses include:
- License for dealing in securities: License No. AVE 583 (status: exceeded).
- License for dealing in futures contracts: License No. BFW 317 (status: revoked).
The regulatory framework under which Cwsi operates has raised concerns among investors due to the revocation of its futures contracts license. Cwsi's compliance with local regulations is crucial for maintaining investor trust and ensuring the safety of client funds. The company adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, ensuring that it complies with international standards for financial operations.
Cwsi implements a client funds segregation policy, which ensures that client deposits are kept separate from the company's operational funds. However, the lack of participation in an investor compensation fund raises some concerns regarding the protection of client investments in the event of insolvency.
3. Trading Products and Services
Cwsi broker offers a variety of trading products, including:
- Forex Trading: Cwsi provides access to numerous currency pairs, including major, minor, and exotic pairs, catering to different trading strategies.
- Contracts for Difference (CFDs): The broker offers CFDs on various asset classes, including indices, commodities, and stocks.
- Special Products: Cwsi has unique offerings like structured products and fixed-income funds, primarily targeting high-net-worth individuals and institutional clients.
The broker frequently updates its product offerings to meet market demand, though specific details on the frequency and nature of these updates are not publicly disclosed. Cwsi also offers retail trading services, allowing individual traders to access the financial markets easily.
Additionally, the company provides asset management services, focusing on fixed-income funds with an asset management scale nearing $1 billion. These services are designed to help clients diversify their portfolios and manage risk effectively.
4. Trading Platforms and Technology
Cwsi does not support MetaTrader 4 or 5, which are popular platforms among forex traders. Instead, it offers its proprietary trading platform, designed to facilitate stock trading and other financial transactions.
The platform includes:
- Web-Based Trading: Accessible from any browser, allowing clients to manage their trades and accounts conveniently.
- Mobile Applications: Cwsi provides mobile trading applications for both iOS and Android, enabling traders to execute trades on the go.
Cwsi operates on an ECN (Electronic Communication Network) model, which allows for direct market access and potentially tighter spreads. The company's servers are located in Hong Kong, ensuring low latency and fast execution speeds for traders.
For automated trading, Cwsi offers an API interface, allowing clients to connect their trading algorithms and strategies directly to the broker's systems, enhancing trading efficiency and flexibility.
5. Account Types and Trading Conditions
Cwsi offers several account types tailored to different trading needs:
- Cash Securities Trading Account: Minimum deposit of HK$1,000 with spreads starting from 0.05% and a commission of HK$0.01 per share.
- Margin Securities Trading Account: Requires a minimum deposit of HK$5,000, with spreads starting from 0.10% and a commission of HK$0.02 per share.
Cwsi broker provides leverage of up to 10 times, enabling traders to amplify their positions. The minimum trade size and overnight fees are subject to the specific account type and trading conditions, which may vary.
Additionally, Cwsi offers a demo account option, allowing new traders to practice their strategies without financial risk. However, the details surrounding the availability of demo accounts are not extensively covered.
6. Fund Management
Cwsi supports various deposit methods, including:
- Bank Transfers
- Credit Cards
- Electronic Wallets
The minimum deposit requirements differ based on the account type, with a standard minimum of HK$1,000 for cash accounts. Deposits are processed promptly, typically within one business day, although specific timelines may vary.
Withdrawal methods include bank transfers and checks, with processing times generally taking one to three business days. Cwsi does not charge deposit fees, but withdrawal fees may apply depending on the method chosen.
7. Customer Support and Educational Resources
Cwsi provides customer support through multiple channels, including:
- Phone Support: Available 24/7 at (852) 3958 4688.
- Email Support: Clients can reach out via cwsi1888@cwsi.com.hk.
- Social Media: Active presence on platforms like Facebook.
The company offers support in multiple languages, catering to its diverse client base. Educational resources include webinars, tutorials, and market analysis services, helping traders enhance their skills and knowledge.
Cwsi also provides daily market analysis and research reports, assisting clients in making informed trading decisions.
8. Regional Coverage and Restrictions
Cwsi primarily serves clients in Hong Kong and surrounding regions. The company has established a strong presence in the local market, with its headquarters facilitating operations across various financial services.
However, Cwsi does not accept clients from certain jurisdictions due to regulatory restrictions, including regions where local laws prohibit the offering of their services. Specific country restrictions are not publicly detailed, but potential clients are encouraged to verify eligibility before opening an account.
In summary, Cwsi broker presents a comprehensive suite of trading services tailored to meet the needs of both retail and institutional clients, despite facing regulatory challenges. Its commitment to providing diverse financial products, coupled with advanced trading technology, positions it as a notable player in the Hong Kong financial market.